NBS: China's Nov crude steel output drops 11% on year

China's crude steel output came in at 69.87 million tonnes in November, posting a sharp fall of 10.9% on year, according to the latest release by the National Bureau of Statistics (NBS) on Monday morning.

Last month, the country's daily crude steel output averaged 2.33 million tonnes/day, hovering slightly higher than the 2.32-million-tonne average for October, Mysteel Global calculated based on the NBS data. Chinese steelmakers kept their run rates at a relatively low level in November, mainly because of lackluster demand from end-users during